New York, March 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Film And Video Global Market Report 2022" - https://www.reportlinker.com/p06243802/?utm_source=GNW
The global film and video market is expected to grow from $244.43 billion in 2021 to $273.35 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $409.02 billion in 2026 at a CAGR of 10.6%.
The film and video market consists of the sales of entities (organizations, sole traders, or partnerships) that produce or distribute motion pictures, videos, television programs, or commercials, exhibit motion pictures, or provide postproduction and related services.
The main types of film and video are film and video production, film and video distribution, post-production services, film and video theatres, other film and video industries.The complete process of making a video is referred to as video production.
Whether it’s a short film, a feature film, a company marketing video, a television commercial, a video clip, or another genre of film, the procedure is essentially the same. The different genres include action, horror, comedy, documentary, drama, others, and are used in various applications such as film companies, film studios, others.
North America was the largest region in the film and video market in 2021.Africa is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Mobile video viewing has increased significantly in recent years and is expected to grow further during the forecast period.This is mainly driven by the rise in internet penetration and growth in smartphones usage.
For instance, according to a Hootsuite study for 2020, 4.18 billion individuals (more than half of the global population) utilize mobile internet, and 57 percent of global video is watched on mobile devices. Adult Americans spend 30 minutes a day on average watching videos on their phones. Thus, a rapid increase in mobile video consumption is expected to drive the film and video market during the forecast period.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the film and video markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’.
The outbreak had a negative impact on businesses throughout 2020 and into 2021.However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels.
It is expected that the film and video market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost-effective, lightweight, and reduce risks associated with cranes and cable cams during filmmaking.Autonomous drones are flying gadgets equipped with multiple rotors, built-in high-resolution cameras, and algorithms for capturing videos and pictures.
It offers a 360-degree experiential recording experience with minimum human intervention.They are used to capture aerial shots, taking footage and images without having a cameraman on an actual helicopter.
For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu, and EHANG.
The countries covered in the film and video market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06243802/?utm_source=GNW
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